Credit Afrique Seals Deal with Gokada Rides

Crédit Afrique Microfinance Bank has announced a strategic partnership with Gokada Rides Limited, for the provision of affordable asset finance loans to qualified members of the public.

The partnership was announced after the signing of the memorandum of understanding (MoU) by the two parties at a ceremony held in Lagos, as the MFB opened its doors for business to members of the public. According to a statement, Crédit Afrique (CA) would provide financing in the form of microloans to trained motorbike riders.

The financing scheme would be in four phases, with the first tranche commencing this month.

Under the MoU, Gokada would conduct both written and psychometric tests for the intended participants and train them on the operation guidelines, safety, traffic rules and maintenance of the motorbikes before recommending them to the bank for loan disbursement on the purchase and setup of the motor bikes under the scheme for operation.

The companies believed that the partnership would address transportation/mobility challenges characterised by increasing levels of congestion, wide-spread pollution, road fatalities, and inequity in access in urban cities.

In her remarks, a member of the MFB’s management and board of directors, Mrs. Esohe Urhoghide said, “To build safer, more inclusive, and sustainable cities of tomorrow, technology will play a crucial role in identifying mobility gaps and transforming existing transportation infrastructure as we have seen across the world. “Our partnership with Gokada is in line with the bank’s mission to boost financial and social inclusion by making connections between viable financing and innovative solutions for small and medium businesses.”

On his part, the chief executive officer, Gokada Rides Limited, Deji Oduntan, “We are delighted with our partnership with CA and look forward to a mutually beneficial relationship.